What is an Individual Pension Plan?
Individual Pension Plan (IPP) is a great benefit pension plan that offers business owners maximum tax relief and maximum retirement pension. IPP also offers guaranteed lifetime income, and allows you the ability to not exclusively rely on your Registered Retirement Savings Plan’s performance. IPPS are very common because they allow you to contribute higher maximums than an RRSP. IPPS are most beneficial for individuals age 40 and older, as well as owners of an incorporated company.